ORLANDO, FLA. — An undisclosed buyer has acquired a 72,618-square-foot self-storage facility in Orlando. Located at 4020 Curry Ford Road, the 637-unit property sold for $2.8 million. Charles LeClaire and Michael Mele of Marcus & Millichap marketed the property on behalf of the seller, a national bank. LeClaire and Mele also represented the buyer in the transaction.
Southeast
ELIZABETHTOWN, KY. — Love Funding has closed on a $3.1 million refinance loan for Cardinal Creek Apartments in Elizabethtown. The property offers 52 two-bedroom/two-bath units, which feature hardwood floors, plantation blinds, an eat-in kitchen with a dishwasher and a microwave, washer/dryer hook-ups, and a private patio or balcony. Tammy Tate of Love Funding's Knoxville, Ky., office secured the financing through the FHA 223(f) loan program.
BROOKHAVEN, MISS. — Arbor Commercial Funding, a wholly-owned subsidiary of Arbor Commercial Mortgage, has funded a $1.33 million loan under the Fannie Mae DUS Small Loan product line. The loan is for Lakeview Arms Apartments, a 96-unit complex in Brookhaven. Edward Petti of Arbor's New York office originated the 10-year loan, which amortizes on a 30-year schedule.
NORTH CHARLESTON, N.C. — A 77,225-square-foot World Overcomers Ministries has opened at Festival Centre Shopping Center in North Charleston. The property is located at the corner of Ashley Phosphate Road and Dorchester Road. Ron Buckley provided in-house representation for the center's owner, Centro Properties Group, in the transaction. Terms of the transaction were not released.
ORLANDO, FLA. — USAA Real Estate Co. has purchased Patterson Court, a Class A multifamily property located within master-planned Little Lake Bryan in Orlando. Built in 2008, the 452,928-square-foot, 384-unit property features a pool with an adjacent plaza, a clubroom, and state-of-the-art fitness and business centers. Additionally, the property is 100 percent leased by a large institutional tenant. Atlanta-based Wood Partners sold the property for an undisclosed price.
CHARLESTON, S.C. — Beverly Hills, Calif.-based Sonnenblick-Eichner Co. has arranged an $80 million first mortgage loan for Charleston Place, a luxury hotel in downtown Charleston. The 435-room hotel offers 57,000 square feet of retail space, two full-service restaurants, 37,000 square feet of meeting and banquet space, and a 20,000-square-foot state-of-the-art spa and fitness center. Retailers include Louis Vuitton, Gucci, LaCoste and Tommy Bahama. The borrower was Orient-Express Hotels.
RICHMOND, VA. — Thalhimer, a member of the Cushman & Wakefield Alliance, has brokered three leases, totaling 29,984 square feet, at Williams Mullen Center in Richmond. Located at 200 S. 10th St., the property offers 210,807 square feet of Class A office space. Cherry, Bekaert & Holland CPA signed a lease for 21,004 square feet; Agincourt Capital Management inked a deal for 6,630 square feet; and La Parisienne took 2,350 square feet at the center. Jeffrey Cooke, Connie Jordan Nielsen and Brian Berkey of Thalhimer brokered the lease transactions. Terms of the transactions were not released.
BOSSIER CITY, LA. — Beech Street Capital has provided a $28 million Fannie Mae DUS loan for the refinancing of Villaggio Apartments in Bossier City. Comprised of 10 three-story buildings, the Class A property offers 239 luxury multifamily units and 30 commercial space, totaling 51,479 square feet. Meridian Capital Group originated the transaction, which was financed by Beech Street Capital as part of its correspondent relationship with Meridian.
COLLEGE PARK, GA. — Inland Atlantic Georgia Old National Venture, a joint venture between Inland Atlantic Development Corp., Pointe Development Co. and Heritage Creek Development, has broken ground for the development of Old National Marketplace, a planned 297,000-square-foot shopping center in College Park. The 99,000-square-foot first phase is approximately 90-percent pre-leased to a variety of tenants, including LA Fitness, Family Dollar, Citi-Trends, It's Fashion, Shoe Land and VIP Nails. Completion of the first phase is scheduled for October 2011.
ATLANTA — An affiliate of KTR Capital Partners has acquired Gateway Distribution Center, a two-building warehouse complex located at 6047 and 6049 Fulton Industrial Blvd. SW in Atlanta. Situated on 19 acres, the 410,806-square-foot facility features rail service, 24-foot clear ceiling heights, T-5 lighting, and 102 exterior dock doors. The property is currently 74 percent leased to two tenants. The acquisition price was not released. CB Richard Ellis represented the undisclosed seller in the transaction.